Laboratory (LH) Gets a Buy Rating from Wells Fargo

Wells Fargo analyst Dan Leonard maintained a Buy rating on Laboratory (LHResearch Report) on July 29. The company’s shares closed last Friday at $296.15, close to its 52-week high of $298.89.

According to TipRanks.com, Leonard is a 5-star analyst with an average return of 15.5% and a 67.6% success rate. Leonard covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, Guardant Health, and Mettler-Toledo.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Laboratory with a $321.13 average price target, which is an 8.4% upside from current levels. In a report issued on July 14, Truist Financial also maintained a Buy rating on the stock with a $330.00 price target.

See today’s analyst top recommended stocks >>

Based on Laboratory’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.84 billion and net profit of $467 million. In comparison, last year the company earned revenue of $2.77 billion and had a net profit of $232 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LH in relation to earlier this year. Most recently, in May 2021, Jean-Luc Belingard, a Director at LH sold 2,600 shares for a total of $699,790.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Laboratory Corp. of America Holdings is a clinical laboratory company, which engages in the provision of clinical laboratory and end-to-end drug development services. It operates through the LabCorp Diagnostics and Covance Drug Development segments. The LabCorp Diagnostics segment includes core testing as well as genomic and esoteric testing. The Covance Drug Development segment involves in providing drug development solutions, to companies in the pharmaceutical and biotechnology industries. The company was founded in 1971 and is headquartered in Burlington, NC.